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Friday, April 29, 2016

Market has come down a bit as expected it has rallied for the past 3 months. Next month will be a bountiful month for dividend investors as most of the Singapore companies will be paying dividends in May. I will be getting some too :)

There was a saying you should sell in May and go away because most of the companies going XDs will suffer from a temporary fall in share price. But I will be holding them for good :)

STI vs my portfolio

My portfolio is still hovering in the negative region :( but good news is that I beat STI at least a consolation prize :)

Saturday, April 23, 2016

This one looks like a almost perfect setup to trade but it didnt turn out well as expected and hit my stop loss. GBPUSD was in a down trend then a strong down move followed by a sharp reversal was the perfect entry point but it continued moving upwards and hit the stop loss :( It was expected to continue its downwards trend :( oh well...

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Took a short trade on GBPUSD and got a bumpy ride but in the end, it went down and close trade in the early morning. This could well be a lost trade if I didnt hold on longer and it didnt hit my stop loss. Anyway just glad that everything turns out well.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Wednesday, April 20, 2016

Took a short trade on USDCHF at the breakout towards downside. It was a pretty move and trade was closed at 11pm.
Seems like trading session is very important gotta trade at certain time to see some of the major move. Else you will be caught in the whipsaw.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Everything looks great for this trade setup. Gold was going down and there was a nice reversal and I was ready to short it as it is expected to go lower but I think there was some news which caused gold to run up abit and hit my stop loss. Oh well, not everyday is Sunday :)

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)

Saturday, April 16, 2016

This is a real story that I heard from my colleague. They were implementing a project and was told to be on standby ie stay back for a while to monitor the job to ensure that the new changes are implemented correctly and to react fast for any abnormalities. However, my colleague said that 2 of them replied that they cannot stay and left office on time.

I tried to imagine what was going on inside their mind. Well, it could be that they really have some urgent family matters to settle and couldn't stay. Its also possible that they feel that their work effort is unappreciated and there's no point to really work hard to proof it to their boss or themselves. Whatever project they do is of no use, they feel that they are blacklisted. Well, if that's the case, then its a very dangerous thought. I would call it the vicious cycle, you will never get out of this black hole if you harbor such thoughts.

For example, if this year you didn't get a good grade and if you keep thinking that there's no point in studying harder because you cannot absorb anymore and your IQ is this much. You hit your maximum capacity. You are just psychologically limiting yourself. You are setting a ceiling, a mental disability for yourself. You will not get far if you have these limiting thoughts.

Let say you are on a weight loss program, you try to cut down on your carbo intake and exercise regularly. After a while, you didn't see any results, you slowly resign yourself to the fate that you are just a genetically inherited chubby boy/girl and its in your DNA that you are heavy and that nothing you do can help you reduce weight. Its like you are giving it up easily.

Or if you have a credit card debt and you can only repay a small amount each month. If you think that it doesn't matter and doesn't make any difference. Then you are doing a disservice to yourself. Well, it does make a difference. That little money you put in to repay your debt is going to help reduce your principle amount and one day you will clear your debt.

Same for your financial independence journey, when you just started working, you have little savings and those hard earned monies you frugally saved is just too little and it doesn't seem to generate any sizable dividends from your capital investment. You feel like you are taking ages to reach your destiny and there's not a shadow in sight.

Sure, many times while trying to reach your goal, the long journey will make you feel fruitless and you feel like you are wasting your time. We are only human and sometimes we will have such negative thoughts hovering in our mind. Well, Rome was not built in one day. So we all got to keep on trying.

Saturday, April 2, 2016

This month is the first time I didnt add any new stocks into my portfolio mainly because of the strong runup and I want to take a breather and reload my warchest abit hehe. We should be expecting the market to calm down abit after the mini rally.

STI vs my portfolio

My portfolio is still hovering in the negative region :( but good news is that I beat STI at least a consolation prize :)